Maximizing surplus in a market depends not only on the amount bought and sold, but also on:
A. how productive the sellers are.
B. who buys and sells it.
C. what those consumers do with it.
D. None of these statements is true.
Answer: B
Economics
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In the above figure, if a subsidy is granted to producers that generates an efficient allocation of resources, then consumers will pay a price of
A) $20 per unit. B) $15 per unit. C) $10 per unit. D) $5 per unit.
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To maximize joint profits, the members of a cartel have to determine the level of industry output by setting marginal revenue qual to the cartel's joint marginal costs of production
Indicate whether the statement is true or false
Economics